Shares of eFFECTOR Therapeutics (EFTR) soared 27% in Friday’s pre-market trading session after the clinical-stage biopharmaceutical company focused on the treatment of cancer revealed new positive data for zotatifin, a potent and selective inhibitor of eukaryotic translation initiation factor 4A (eIF4A).
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Yesterday, eFFECTOR Therapeutic, together with investigators at Baylor College of Medicine, presented new positive data for zotatifin in animal models of triple-negative breast cancer (TNBC) at the 2021 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics.
The authors of the study reported that blocking eIF4A in p53-null models of mouse mammary tumorigenesis with zotatifin resulted in tumor control through tumor-intrinsic mechanisms and the activation of host immune responses. This activity is further heightened with the introduction of chemotherapy.
According to the study, zotatifin treatment slowed the growth of tumors in six out of eight syngeneic TNBC models without apparent toxicity. (See eFFECTOR Therapeutics stock charts on TipRanks)
In addition, zotatifin treatment was also shown to inhibit proliferative and stem cell signaling pathways and induce beneficial changes in the tumor microenvironment by increasing the production of proteins involved in interferon- α and interferon- γ pathways.
Moreover, the combination of zotatifin with carboplatin and everolimus (mTOR inhibitor) demonstrated statistically significant increases in survival versus the use of these agents alone.
Sharing his optimism on the new data, eFFECTOR Therapeutics CEO Steve Worland commented, “We are pleased to present these highly encouraging data through our partnership with researchers at Baylor College of Medicine that support continued advancement of zotatifin in solid tumor indications, including triple negative breast cancer.”
He further added, “We believe zotatifin may have therapeutic benefit in this difficult-to-treat subset of breast cancer patients, particularly in combination with other FDA-approved agents.”
Following the news after markets closed yesterday, Mizuho Securities analyst Mara Goldstein reiterated a Buy rating on the stock with a price target of $20 (74.2% upside potential).
Overall, the stock has a Strong Buy consensus rating based on 3 Buys and 1 Hold. The average eFFECTOR Therapeutics price target of $30.75 implies 168% upside potential from current levels.
Related News:
Globant Acquires Atix Labs to Expand Blockchain Offering
Kroger Plans to Hire 20,000 Employees in the U.S.
IBM Signs 5-Year Deal with Honda to Manage European Finance and Procurement Operations
